The Global Medical Protective Equipment Industry is poised for impressive expansion, with a projected Compound Annual Growth Rate (CAGR) of 9.5% over the forecast period, as per the latest analysis by Future Market Insights (FMI). FMI forecasts that the industry’s value, currently standing at US$ 21.3 billion in 2023, is set to surge to a substantial US$ 52.8 billion by the end of 2033.
The driving force behind this remarkable growth is the escalating demand for medical protective equipment from healthcare facilities worldwide. The key industry players are strategically focusing on enhancing their product offerings, particularly in areas such as face masks, face shields, gowns, and gloves. These companies are also working diligently to expand their production capacities, contributing significantly to the overall market expansion.
One crucial factor fueling this surge in demand is the stringent governmental norms and heightened concerns for health and safety. These factors are motivating end users to make substantial investments in medical protective equipment, further propelling the industry forward. Medical protective equipment not only safeguards healthcare professionals but also minimizes exposure to hazards that could lead to severe health issues. The growing awareness regarding the invaluable benefits of shielding through medical protective equipment is expected to accelerate market expansion in the years to come.
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Since maintenance of hand hygiene is considered important to avoid getting infected by infectious diseases, the demand for gloves is surging significantly. Also, medical gloves are used to safeguard the wearer as well as other patients from spreading the infection or illness during medical procedures or examinations. Increasing surgical procedures over the forthcoming years is projected to boost the sales of medical gloves, thus shaping the medical protective equipment industry.
Key Highlights of the Global Medical Protective Equipment Industry :
- The United States holds a large share of the medical protective equipment market. The same trend is projected to be followed in the forthcoming years, as the country is projected to attain US$ 13.8 billion by 2033. The estimated CAGR for the forecast period is 7%.
- In the Asia Pacific, China is expected to secure a significant position in the forecast period. The country is anticipated to reach US$ 2.9 billion by 2033, registering a CAGR of 11% in the meantime.
- The United Kingdom is predicted to garner market revenue of US$ 2.2 billion by 2033. The market is predicted to expand at a CAGR of 9.5% over the forthcoming years.
- The gloves segment is expected to exhibit a CAGR of 8.9% over the forecast period. Growing demand for surgical disposable gloves approved by FDA is propelling the gloves segment forward.
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News Featuring Market Developments by Key Players of Medical Protective Equipment Solutions:
- In March 2022, Ansell Ltd., a leading provider of personal protective equipment, joined the global players working in the rubber glove industry to establish Responsible Glove Alliance (RGA). The role of RGA is to ensure protection of workers susceptible to forced labor in supply chains, especially within medical supply industries. The initial focus of RGA would be manufacturing industry of rubber glove in Malaysia. This is due to the fact that Malaysia is world’s leading producer of rubber gloves, and relies extensively on migrant labor.
- In March 2022, Dynarex Corporation, extended its durable medical equipment (DME) portfolio to meet the surging demands from long-term care and home-care marketplaces. The offerings of DME includes premium solutions for a range of requirements, such as home care beds, lifts and slings, mattresses, mobility, wheelchairs, etc. and long-term care.
- In February 2022, Kimberly-Clark Worldwide, Inc. officially revealed its innovative ICON™ dispenser collection. These dispensers provide design customization, along with patented technology to supply a 99.99% jam-free, more efficient, virtually noise-free paper towel dispensing experience.
Global Medical Protective Equipment Industry by Category
By Product Type:
- Gloves
- Protective Clothing
- Gowns
- N95 Respirators
- Surgical Masks
- Goggles
- Face Shields
- Head Cover
- Shoes Covers
By Usage:
- Disposable
- Non-disposable
By End User:
- Hospitals
- NGO’s/ Government Organization
- Ambulatory Surgical Centers
- Specialized Clinics
- Diagnostic and Research Laboratories
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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